Global Plant Biostimulant market

Plant biostimulant is a microorganism or a substance based on natural resources applied to plant roots with the main aim to enhance nutrient efficiency, abiotic stress tolerance and crop quality traits. The biostimulant are mostly used in agriculture in cereals, and fruits and vegetables.

The global plant biostimulant market is highly scattered due presence of large number of small size as well as medium sized and big players, resulting in a stiff competition in the market. North America and Europe are the regions with maximum growth and development.The key players in the market are more focused to cater to a bigger consumer base with their new products and expand the market across the globe.

Investment in R&D of cheap and effective products is one of the major strategy being followed by the market leaders. Manufacturers are also investing in different production processes so as to reduce the cost of production.

Market Dynamics

The healthy growth of organic food industry is a driving factor for the rapid growth of the biostimulant industry. The major constraint which has restrained the growth of the market includes the lower awareness rate among the farmers in the developing countries and high R&D cost. One of the major opportunities can be provided by Government by increasing its support in form of subsidy for growth and development of the biostimulant market.

Market Segmentation

The global Biostimulant industry can be segmented on the basis of active ingredients into humic acids, fulvic acids, amino acids, protein hydrolysates, seaweeds and pothers. Acid based biostimulant constituents humic acids, fulvic acids and amino acids has largest market share accounting for about 50%. The seaweed extracts segment accounts to around 37% of market share is expected to grow even faster during the forecast period due to its increased demand in North American and European markets.

Natural biostimulant is still the market leader if market is segmented on the basis of type. Folier method is the most preferred process of application of biostimulant followed by soil and seed applications. Seed application is estimated to have faster growth in the forecast period.

Geographic Analysis

Geographically the biostimulant market is mainly focused in these countries such as U.S., Canada, Mexico, U.K., Germany, Spain, France, Italy, China, India, Brazil, Saudi Arabia, South Africa, etc. The North American market accounts for a quarter of the market share and is expected a boost in its growth during the forecast period.

Asia Pacific region is estimated to be fastest growing market of all due to migration from traditional farming methods to sustainable ones and availability of products at a cheaper cost. India China and Australia are the major markets in the Asia Pacific region. Although vast untapped market in these countries is the major target market for market leaders present around the globe.

European biostimulant market accounts for around 34% of the market share. The EU?s regulations on the environmental safety and support for organic farming methods plays a critical role in flourishing of biostimulant in the European countries like Germany, Italy and France.

It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

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